M&A coming hopefully good one! :) WEF sold two mills at 164M to Altas Holdings. WEF produced 141 MT in 2023. So ATLAS paid 0.85c/MT
CFX have three big mills and produced 600 Mt in 2023. so 0.85*600= 510 M enterprise value.
510M- 89(DEBT)= 421M
421M/66M(o/s)= $6.37
Only thing I am concern is CANFOR CORP low-ball on privatization and pay half of Book Value.
Which is $2.50.
Also MONDI GROUP wants to enter Canadian market. They already bought small pulp mill. I am sure they want to buy more to scale up and this is it. MONDI is multi billion dollar company and they won't just buy small mill and stop.
4 canadiates may interest on CFX
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Mondi group. (PT $3~5)
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Suzano (Failed merger attempt with IP) (PT: $3-5)
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Canfor Corp (Low-ball buyout expecting due to history PT :$2~3)
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Atlas group (maybe scaling up, PT: $2-3)